IMAREX completes M3 acquisition
[First published: Tuesday 04 July 2006 8:29:29 am]
Following the approval by the Financial Supervisory Authority of Norway (Kredittilsynet) of the International Maritime Exchange ASA's ("IMAREX") acquisition of all the shares in M-Tre Holding AS, all the other closing conditions in the Share Purchase Agreement dated 11 May 2006 have either been fulfilled or waived.
IMAREX has today therefore fully acquired M3 throught the purchase of all the shares of M-Tre Holding AS.
M3 is the leading brokerage house in the Nordic Electricity market with an estimated 32% of the OTC market. M3 consists of 7 brokers working both futures and options in the Nordic and European electricity market. The company counts many of the largest power generators, commodity traders and banks among its customers.
IMAREX also recently announced a merger of ownerships with the Norwegian futures and options clearing House (NOS). The new organisation created by that merger becomes the strongest and most focused combination of market place and clearing services to the freight and commodity derivatives markets.
For more informnation, please contact:
- Tom Even Mortensen, Managing Director +47 2389 4222
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